Tracing the Footsteps of Mochtar Riady, Founder of Lippo Group with Various Other Businesses

Kapanlagi.com - Mochtar Riady, born Lie Moe Tie on May 12, 1929, in Malang, East Java, is an inspirational figure who began his life journey from a humble background. His father, Li A Pi, was a batik trader who migrated from Fujian, China, to Indonesia in 1918. Since childhood, Mochtar was captivated by the banking world after seeing the majestic Nederlandsche Handels Bank building in Malang.

Although aspiring to be a banker, Mochtar's first step began with managing his father-in-law's store in Jember at the age of 22. Thanks to his hard work and dedication, he transformed the store into the largest in the city. However, the dream of entering the banking world never faded. In 1954, he decided to move to Jakarta to pursue a career in finance, even though he had to start from scratch without a network or experience in banking.

His career journey in Jakarta was full of challenges, starting from working in a CV to starting a small business with his friends. Nevertheless, his spirit to become a banker continued to burn. Finally, the opportunity came when he joined Bank Kemakmuran, which became a stepping stone for his career in the banking world. This was the beginning of Mochtar Riady's extraordinary journey that is worth emulating. Let us further explore his inspiring career journey, summarized on Friday (13/12).

1. A Brilliant Banking Career

Mochtar Riady seized a golden opportunity when he was appointed as the director of Bank Kemakmuran, despite having no background in accounting. With a strong desire to learn, he mastered financial reports and the intricacies of banking, then implemented smart business strategies that quickly improved the bank's performance.

In 1971, he played a key role in the merger that combined Bank Kemakmuran, Bank Industri Jaya Indonesia, and Bank Industri dan Dagang Indonesia, giving birth to Panin Bank. His expertise in managing banks continued to shine, leading him to join Bank Central Asia (BCA) in 1975.

Under his leadership, BCA's assets skyrocketed from Rp12.8 billion to over Rp5 trillion before he left the bank in 1990. Due to his outstanding achievements, Mochtar was dubbed "The Magic Man of Bank Marketing," with a business philosophy that emphasizes trust, honesty, and innovation as the foundation of his success.

2. Establishing Lippo Group and Various Business Conglomerates

In 1981, Mochtar Riady took a bold step by founding Lippo Group after acquiring shares in Bank Perniagaan Indonesia, which he successfully transformed into Lippo Bank. From here, a business giant was born, now widely known as Lippo Group, which rapidly soared with diversification into various sectors.

In the property sector, Lippo Group attracted attention through the development of self-sufficient cities like Lippo Karawaci and Lippo Cikarang, while in retail, they manage over 60 shopping centers through Lippo Malls and a number of upscale hotels under the Aryaduta banner. Not only that, Lippo Group is also committed to education by establishing Sekolah Pelita Harapan and three universities, as well as being active in healthcare through the Siloam hospital network, media through BeritaSatu Media Holdings, and telecommunications through First Media.

With more than 50 subsidiaries and 50,000 employees, Lippo Group has transformed into one of the largest conglomerates in Southeast Asia, affirming its position as a key player in various industries.

3. Mochtar Riady's Business Philosophy

Mochtar Riady's success is inseparable from his unique business philosophy, "Lie Yi Lian Dje," which emphasizes hospitality, good character, honesty, and a sense of shame as the main pillars in doing business. This principle has made him a respected figure recognized as an integrative and visionary leader in the business world.

With extraordinary adaptability, he led Lippo Group through the storm of the 1997 Asian monetary crisis with smart diversification strategies and mature risk management. His innovative leadership continues to inspire the younger generation of entrepreneurs in the country.

Moreover, Mochtar also places great importance on education and research, as reflected in the establishment of the Mochtar Riady Institute of Nanotechnology, as a tangible contribution to the advancement of science in Indonesia.

4. Mochtar Riady's Wealth and Business Legacy

According to the 2024 Forbes report, Mochtar Riady now has an extraordinary wealth of USD 2.1 billion, equivalent to Rp33.6 trillion, placing him at the 25th position on the list of the richest people in Indonesia. Most of this wealth comes from Lippo Group, which is now managed by his sons, James and Stephen Riady.

However, Mochtar Riady's legacy is more than just numbers; he has instilled values of leadership and integrity in every step he has taken. Under the leadership of the next generation, Lippo Group continues to soar in various sectors, from finance to technology.

His life story is a true reflection that with hard work, a clear vision, and dedication, one can achieve great success from humble beginnings, becoming a source of inspiration for many who dream of realizing their aspirations.

5. What business sectors does Lippo Group own?

Lippo Group, a business giant that dominates various sectors, has explored the worlds of finance, property, health, education, media, and telecommunications with unbridled innovation and spirit. With a vast portfolio, they not only contribute to economic growth but also shape a better future for society.

6. How did Mochtar Riady start his career?

Mochtar Riady began his life journey from a small shop in Jember, where his big dreams started to bloom. With an unstoppable spirit, he then stepped into Jakarta, a city full of opportunities, to pursue his dream of becoming a successful banker.

7. What is Mochtar Riady's business philosophy?

Mochtar Riady, an inspirational figure in the business world, carries a profound philosophy: "Lie Yi Lian Dje." This expression reflects noble values such as hospitality, good character, honesty, and a sense of shame, which form the foundation of every step and business decision he makes. With these principles, he not only built success but also created sincere and meaningful relationships in every interaction.

8. Who runs Lippo Group today?

Currently, Lippo Group is in the hands of the next generation of Mochtar Riady, his two talented sons, James and Stephen Riady, who are ready to continue the founder's legacy and vision with innovative spirit and smart strategies.

(kpl/ank)